Issue - meetings

Background:

This report provided details of the final revenue and capital outturn position for the financial year ended 31 March 2022. The report stated that these figures would form part of the Council’s Statement of Accounts, which would be considered by the Audit Committee following completion of the External Audit.

The report advised that, at its meeting on 18 February 2021, the Council had set a total budget requirement of £351.862million for 2021/22. Following this, in response to the Covid-19 pandemic, additional grant funding related to the ongoing Covid-19 pandemic had been received, primarily to deliver the Restart Grants scheme to support Medway’s businesses. These additions had taken the final revenue outturn budget requirement to a total of £371.472million.

The Council’s Capital Programme for 2021/22 and beyond had also been agreed by the Council on 18 February 2021. The agreed value was £467.618million with additions and removals made during the year resulting in a final capital outturn budget of £476.971million.

The report also presented a summary of debts written off during the 2021/22 financial year, in line with the constitutional requirement to submit a report to Cabinet on an annual basis setting out details of all debt written off. The report sought the Cabinet’s agreement to write off an additional £33,047.01 of debt.

Reasons:

Cabinet is the body charged with the executive management of the Council’s budget and it is therefore important for the final outturn to be reported to Cabinet.